Today, the Prime Minister, Shri Narendra Modi, addressed the Viksit Bharat Viksit Jammu Kashmir program in Srinagar, Jammu & Kashmir. During his address, he spoke about Jammu and Kashmir Bank.
Addressing the transformation of the J&K Bank, the Prime Minister highlighted the mismanagement of the past, attributing it to dynasty politics and corruption. He emphasized the need for reforms to restore the bank’s health.
The Prime Minister mentioned several reforms implemented to improve the functioning of the J&K Bank, including the provision of Rs 1000 crore assistance and action against wrongful appointments. The Anti Corruption Bureau is currently investigating thousands of such appointments. The Prime Minister also highlighted the transparent recruitments conducted in the last 5 years, which have resulted in significant improvements.
As a result of these reforms, the J&K Bank has experienced remarkable progress. The bank’s profit has reached Rs 1700 crores, and its business has grown from Rs 1.25 lakh crores to Rs 2.25 lakh crores in the past 5 years. Deposits have also increased from Rs 80,000 crores to Rs 1.25 lakh crores. Furthermore, the Non-Performing Assets (NPA) ratio, which was above 11 percent 5 years ago, has been reduced to below 5 percent. Additionally, the bank’s share price has witnessed a significant rise, increasing 12-fold from Rs 12 to about Rs 140 in the last 5 years.
